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Annotated Presentation of Regulated Markets and National Provisions

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Annotated Presentation of Regulated Markets and National Provisions 21.12.2010 EN Official Journal of the European Union C 348/9 NOTICES FROM MEMBER STATES Annotated presentation of regulated markets and national provisions implementing relevant requirements of MIFID (Directive 2004/39/EC of the European Parliament and of the Council) (2010/C 348/09) Article 47 of the Markets in Financial Instruments Directive (Directive 2004/39/EC, OJ L 145, 30.4.2004) authorises each Member State to confer the status of ‘regulated market’ on those markets constituted on its territory and which comply with its regulations. Article 4, paragraph 1, point 14 of Directive 2004/39/EC defines a ‘regulated market’ as a multilateral system operated and/or managed by a market operator, which brings together or facilitates the bringing together of multiple third-party buying and selling interests in financial instruments — in the system and in accordance with its non-discretionary rules — in a way that results in a contract, in respect of the financial instruments admitted to trading under its rules and/or systems, and which is authorized and functions regularly and in accordance with the provisions of Title III of Directive 2004/39/EC. Article 47 of Directive 2004/39/EC requires that each Member State maintains an updated list of regulated markets authorised by it. This information should be communicated to other Member States and the European Commission. Under the same article (article 47 of Directive 2004/39/EC), the Commission is required to publish a list of regulated markets, notified to it, on a yearly basis in the Official Journal of the European Union. The present list has been compiled pursuant to this requirement. The attached list indicates the title of the individual markets which are recognised by national competent authorities as complying with the definition of ‘regulated market’. In addition, it indicates the entity responsible for managing these markets and the competent authority responsible for issuing or approving the rules of the market. As a result of reduced entry barriers and specialisation in trading segments, the list of ‘regulated markets’ is subject to greater turnover than under the Investment Services Directive 93/22/EEC. Article 47 of the Markets in Financial Instruments Directive also requires the European Commission to publish the list of regulated markets on its website and to update it regularly. Consequently, the European Commission will, in addition to yearly publication of a list in the OJ, maintain an updated version of this list on its official website (http://ec.europa.eu/internal_market/securities/isd/mifid_en.htm). This list will be updated regularly on the basis of information communicated by national authorities. The latter are called upon to continue to advise the Commission of any additions to or deletions from the list of regulated markets for which it is the home Member State. Competent authority for designation and oversight of Country Title of Reg. Market Operating entity market Austria 1. Amtlicher Handel (official market) 1.-2. Wiener Börse AG 1.-2. Finanzmarktaufsichtsbehörde (FMA — Financial Markets Authority) 2. Geregelter Freiverkehr (semi-official market) Belgium 1. (a) Le marché «Euronext Brussels»/De 1. Euronext Brussels SA/NV. 1. (a) Reconnaissance: Ministre des Finances «Euronext Brussels» markt, sur avis de la Commission bancaire, financière et des assurances (CBFA). (b) Le marché des instruments dérivés d'Euronext Brussels/De markt voor Erkenning: Minister van Financiën op afgeleide producten van Euronext advies van de Commissie voor het Brussels. Bank-, Financie- en Assurantiewezen (CBFA) (b) Surveillance: CBFA. Toezicht: CBFA C 348/10 EN Official Journal of the European Union 21.12.2010 Competent authority for designation and oversight of Country Title of Reg. Market Operating entity market 2. Le marché réglementé hors bourse 2. Fonds des rentes/Rentenfonds 2. (a) Reconnaissance: Législateur (art. 144, §2 des obligations linéaires, des titres de la loi du 2.8.2002). scindés et des certificats de Erkenning: Regelgever (art. 144, §2 van trésorerie/De gereglementeerde de wet van 2.8.2002). buitenbeursmarkt van de lineaire (b) Surveillance: Comité du Fonds des obligaties, de gesplitste effecten en rentes, pour compte de la CBFA. de schatkistcertificaten. Toezicht: Comité van het Rentenfonds, voor rekening van de CBFA Bulgaria 1. Официален пазар (official market) Българска Фондова Борса — София Комисия за финансов надзор (Financial Super­ 2. Неофициален пазар (unofficial market) АД (Bulgarian Stock Exchange — vision Commission) Sofia JSCo) Cyprus Cyprus Stock Exchange 1.-7. Cyprus Stock Exchange 1.-7. Cyprus Securities and Exchange 1. Main market Commission 2. Parallel market 3. Alternative market 4. Bond market 5. Investment Companies markets 6. Large Project Market 7. Ocean-going shipping market Czech 1. Main Market (Hlavní trh) 1.-2. Prague Stock Exchange (Burza 1.-5. Czech National Bank Republic cenných papírů Praha, a.s.) 2. Free Market (Volný trh) 3. Official Market 3. RM-SYSTEM, Czech stock exchange (RM-SYSTÉM, česká burza cenných papírů a.s.) 4. Futures Market 4.-5. Prague Energy Exchange (Energetická burza Praha) 5. Spot Market Denmark 1. NASDAQ OMX Copenhagen A/S 1. Copenhagen Stock Exchange AS Finanstilsynet (Danish financial supervisory — Equity market; authority) — Bond market; — Derivatives market 2. Dansk Autoriseret Markedsplads A/S 2. Danish Authorised Market Place (Danish Authorised Market Place Ltd. AS (DAMP) (DAMP)) (authorised market place = regular trade in securities admitted for trading but not listed on stock exchange) Estonia 1. Väärtpaberibörs (Stock Exchange) NASDAQ OMX Tallinn AS (NASDAQ Finantsinspektsioon (Estonian Financial Super­ — Põhinimekiri (Main list) OMX Tallinn Ltd.) vision Authority) — Võlakirjade nimekiri (Bond list) — Fondiosakute nimekri (Fund list) 2. Reguleeritud turg (Regulated Market) — Lisanimekiri (Secondary List) Finland Arvopaperipörssi (Stock Exchange); NASDAQ OMX Helsinki Oy Designation: Ministry of Finance. — Pörssilista (Official list); (NASDAQ OMX Helsinki Ltd.) Oversight: — Pre-lista (Pre List); — Approval of rules: Ministry of Finance; — Muut arvopaperit -lista (Other — Supervision of compliance: Finanssiv­ Securities List) alvonta, Finnish Financial Supervisory Authority 21.12.2010 EN Official Journal of the European Union C 348/11 Competent authority for designation and oversight of Country Title of Reg. Market Operating entity market France 1. Euronext Paris Euronext Paris (1.-3.) Proposition de l’Autorité des marchés financiers 2. MATIF (AMF). 3. MONEP Reconnaissance par le ministre chargé de l’économie (cf. article L.421-1 du code monétaire et financier). Germany Börsenaufsichtsbehörden der Länder (stock exchange supervisory authorities of the federal states) and the Bundesanstalt für Finanzdien­ stleistungsaufsicht (BaFin). State authorities: 1. Börse Berlin (Regulierter Markt; Berlin 1. Börse Berlin AG. 1.&2. Senatsverwaltung für Wirtschaft, Tech­ Second Regulated Market) nologie und Frauen, Berlin 2. Tradegate Exchange (Regulierter Markt) 2. Tradegate Exchange GmbH 3. Börse Düsseldorf (Regulierter Markt) 3. Börse Düsseldorf AG. 3. Finanzministerium des Landes Nordrhein-Westfalen, Düsseldorf 4. Frankfurter Wertpapierbörse (Regulierter 4. Deutsche Börse AG 4.&5. Hessisches Ministerium für Wirtschaft, Markt); Verkehr und Landesentwicklung, Wiesbaden 5. Eurex Deutschland 5. Eurex Frankfurt AG 6. Hanseatische Wertpapierbörse Hamburg 6. BÖAG Börsen AG 6. Freie und Hansestadt Hamburg, Behörde (Regulierter Markt) für Wirtschaft und Arbeit 7. Niedersächsische Börse zu Hannover 7. BÖAG Börsen AG 7. Niedersächsisches Ministerium für (Regulierter Markt) Wirtschaft, Arbeit und Verkehr, Hannover 8. Börse München (Regulierter Markt) 8. Bayerische Börse AG 8. Bayerisches Staatsministerium für Wirtschaft, Infrastruktur, Verkehr und Technologie, München 9. Baden-Württembergische Wertpa­ 9. Börse-Stuttgart AG 9. Wirtschaftsministerium Baden-Würt­ pierbörse (Regulierter Markt) temberg, Stuttgart 10. European Energy Exchange 10. European Energy Exchange AG, 10. Sächsisches Staatsministerium für Leipzig Wirtschaft und Arbeit, Dresden Greece 1. Athens Exchange 1. Athens Exchange 1. Hellenic Capital Market Commission — Securities Market (HCMC) — Derivatives Market 2. Electronic Secondary Securities Market 2. Bank of Greece 2. Hellenic Capital Market Commission (HDAT-Debt Instruments’ Market) (HCMC) Hungary Budapesti Értéktőzsde Zrt. (Budapest Stock Budapesti Értéktőzsde Zrt. (Budapest Pénzügyi Szervezetek Állami Felügyelete Exchange) Stock Exchange) (Hungarian Financial Supervisory Authority) — Részvényszekció (Equities Section) — Hitelpapír szekció (Debt Securities Section) — Származékos szekció (Derivatives Section) — Áru szekció (Commodities Section) — Szabadpiaci szekció (Free Section) Ireland Main Securities Market of the Irish Stock Irish Stock Exchange Ltd. The Central Bank of Ireland authorises Exchange ‘regulated markets’ and (excluding listing conditions) supervises compliance with MiFID requirements by the Market Operator. C 348/12 EN Official Journal of the European Union 21.12.2010 Competent authority for designation and oversight of Country Title of Reg. Market Operating entity market Italy 1. Electronic Share Market (MTA) 1.-6. Borsa Italiana SpA Consob authorises companies which manage markets and approve their by-laws and regu­ 2. Electronic Bond Market (MOT) lations. 3. Electronic Open-end Funds and ETCs For wholesale markets for Government Market (ETF-Plus) securities, the operating company
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